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Accredited Investors

What does it mean to be an AI?

An accredited investor ("AI") may generally have access to a wider range of financial products and services. Some financial institutions may not offer certain products and services to persons who are non-AI.

To be eligible to be treated as an AI, you must first meet eligibility criteria (please refer to "How do I qualify for AI Status?" below) and you must opt-in to be treated as an AI.

If you opt-in to be treated as an AI, you are regarded as having consented to and understood the following:

(1)  You have read, understood and agreed to the following general warning

AIs are assumed to be better informed, and better able to access resources to protect their own interests, and therefore require less regulatory protection. Investors who agree to be treated as AIs therefore forgo the benefit of certain regulatory safeguards. For example, issuers of securities are exempted from issuing a full prospectus registered with the Monetary Authority of Singapore in respect of offers that are made only to AIs, and intermediaries are exempted from a number of business conduct requirements when dealing with AIs. Investors should consult a professional adviser if they do not understand any consequences of being treated as an Accredited Investor.

(2)  You have consented to being treated as an AI for the purposes of the following regulatory provisions applicable to StashAway's business ("Consent Provisions").

We have outlined below a summary of the Consent Provisions and the consequences of your being treated as an AI in relation to such Consent Provisions.  These consequences apply to all advice, recommendations, offers, communications or dealings with StashAway, transactions that you carry out on any investment products or policies advised on by StashAway from time to time, including past and future transactions in relation to the same ("Transactions").

Click here for more details on the Effect of Treating an Investor as an Accredited Investor for the Purpose of the Consent Provisions.

If you choose to be treated as an AI, this status will apply to all your account(s), investments, holdings and dealings with StashAway going forward.

Please note that it is your right to elect to be treated as an AI and alternatively, you can choose to be treated as a retail investor instead. If you do not choose to be treated as an AI, please see "What does it mean to be a non-AI?" below.

If you have already opted in but wish to withdraw your consent to be treated as AI, please see "Can you withdraw your consent to be treated as an AI after you have signed the Opt-In Form, and what are the consequences?" below

 

How do I qualify for AI status?

The following prescribed thresholds apply in order to be eligible to be treated as AI :

Individuals

·    Net personal assets (“NPA”) exceed S$2 million (or its equivalent in a foreign currency), but net equity of primary residence capped at S$1 million of the S$2 million threshold [1] ; or

·    Net financial assets [2] (“NFA”) (net of any related liabilities) exceed S$1 million (or its equivalent in a foreign currency); or

Income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency)

If you meet any of the above criteria, you qualify as AI-eligible and may be treated as AI if you choose to opt-in. This is subject to StashAway's verification that you meet the prescribed thresholds above.

[1] An individual’s primary residence refers to where the individual lives in most of the time and –

  • is to be calculated by deducting any outstanding amounts in respect of any credit facility that is secured by the residence from the estimated fair market value of the residence; and
  • is taken to be the lower of the following:
  • the value calculated under (a); and
  • $1 million.

[2] Where “financial asset” means:

  • a deposit as defined in section 4B of the Singapore Banking Act (Cap. 19);
  • an investment product as defined in section 2(1) of the Financial Advisers Act (Cap. 110); or
  • any other asset as may be prescribed by regulations made under section 341 of the Securities and Futures Act (Cap. 289).

 

 What does it mean to be a non-AI?

Generally, non-AIs may have access to a limited range of financial products and services as compared to those available to an AI. Some of our products and services may not be available to persons who are non-AI. 

If you do not choose to opt in as an AI, StashAway may not be able to provide with financial advice and planning services available for StashAway Reserve clients. There will be no change to your existing account, investments or holdings with StashAway which are available for our general retail clients (if any).

 

Can you withdraw your consent to be treated as an AI after you have signed the Opt-In Form, and what are the consequences?

 

Yes. In the event that you have signed an Opt-In Form and consented to being treated as an AI by StashAway for the purpose of all the Consent Provisions and in connection with your accounts, investments and holdings with StashAway, you have a right to withdraw your consent at any time. 

You can do this by giving written notice to us by completing and returning to us the Opt-In Withdrawal Form via support@stashaway.com.

Your withdrawal of consent will take effect upon 7 days after we receive your duly completed Opt In Withdrawal Form ("Opt-In Withdrawal Effective Date").

In the event that you withdraw your consent, StashAway will not be able to treat as you as an AI as explained in "What does it mean to be a non-AI?" (above), with effect from the Opt-In Withdrawal Effective Date. 

This means that thereafter, StashAway will not be able to offer you StashAway Reserve products and services and we may no longer provide financial planning advice or offer any other services in relation to StashAway Reserve] with you with effect from the Opt-In Withdrawal Effective Date.

However, subject to any other rights that StashAway may have under the applicable terms and conditions governing your account, investments, holdings and/or dealings prior to the Opt-In Withdrawal Effective Date will not be affected solely by virtue of you withdrawing your consent from being treated as an AI. You will still be able to hold on to your existing investments. However, if you would like to receive further advice, purchase a new investments, make new subscriptions, receive information or advice on new products or switch out existing investments and/or carry out any other transactions on or after the Opt-In Withdrawal Effective Date, we will not be able to accept such requests or transactions.

StashAway shall not be liable to you under any circumstances for any losses that you may suffer as a result of you opting out from being treated as an AI.

 

 

 

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